Norges Bank Purchases New Position in SharkNinja, Inc. (NYSE:SN)

Norges Bank bought a new stake in shares of SharkNinja, Inc. (NYSE:SN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,035,793 shares of the company’s stock, valued at approximately $100,845,000. Norges Bank owned 0.74% of SharkNinja at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Riposte Capital LLC raised its stake in shares of SharkNinja by 15.0% during the 4th quarter. Riposte Capital LLC now owns 115,000 shares of the company’s stock valued at $11,196,000 after purchasing an additional 15,000 shares during the period. Vanguard Group Inc. increased its position in shares of SharkNinja by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 159,888 shares of the company’s stock valued at $15,567,000 after buying an additional 9,484 shares during the period. Sei Investments Co. lifted its holdings in shares of SharkNinja by 7.1% in the fourth quarter. Sei Investments Co. now owns 104,265 shares of the company’s stock worth $10,151,000 after buying an additional 6,949 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of SharkNinja by 12.1% in the fourth quarter. Teacher Retirement System of Texas now owns 37,000 shares of the company’s stock valued at $3,602,000 after acquiring an additional 4,000 shares during the period. Finally, Xponance Inc. grew its stake in SharkNinja by 11.3% during the fourth quarter. Xponance Inc. now owns 4,053 shares of the company’s stock valued at $395,000 after acquiring an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 34.77% of the company’s stock.

SharkNinja Price Performance

Shares of SharkNinja stock opened at $84.15 on Wednesday. The firm has a market capitalization of $11.78 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. SharkNinja, Inc. has a 12 month low of $60.72 and a 12 month high of $123.00. The business’s 50-day moving average price is $100.87 and its 200-day moving average price is $102.10.

SharkNinja (NYSE:SN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.06). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.61 billion. SharkNinja had a net margin of 7.94% and a return on equity of 32.51%. Sell-side analysts forecast that SharkNinja, Inc. will post 4.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SN. Canaccord Genuity Group raised their price target on shares of SharkNinja from $129.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their price objective on SharkNinja from $93.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their target price on SharkNinja from $120.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group lifted their price target on SharkNinja from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, SharkNinja has a consensus rating of “Moderate Buy” and an average price target of $122.50.

SharkNinja Company Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.